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20121027
20121104
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a recession. if mr. obama gets reelected and tre's a stalemate because he wins an electoral majority, electoral college majority and not electoral majority and stalemate with the republican house, we could see the stalemate cause the mother of all recessions, a recession we don't recover from and that we call in economics depression. melissa: you sa it would take two% away from gdp if tax cuts expire. we heard gdp is growing at 2%. that would take us to zero. a bunch of economists got together and say if you couple that with sequestration thing that would be 3.6 to 5.2% decline in gdp. that would be deep into negative territory, right? >> absolutely. and you must remember that if you're at 2% growth and get down to like a half, it is really not sustainable. melissa: no. >> because it is like a man riding on a bicycle. it is so slow he falls off. we're growing as slow as we can get away with without tumbling down. melissa: that 2% today that was better thaexpected is actually horrible because we continued at this rate, it would take usike, seven, eight, nine, years to add back jobs to
is that there is some arguments on both sides but i'm not very optimistic that if mr. obama's reelected much of this is going to get fixed. >> nariman, i give you the last word. do you agree with that? >> i have two disagreements. one that deleveraging continues if you look at things like household debt to disposable income numbers they keep going down. households are still deleveraging. the other issue we were ae to go rapidly in the '90s and 2000s and import a lot. i don't blame globalization or trade the fact we're growing slowly. no. i think we're deleveraging. i think that is big factor for households and banks. >> we agree to disagree. melissa: good for you. thanks for coming on, guys. we appreciate it. have a great weend. here to react to the october jobs report is phil angelides. he is obama surrogate, former head of the financial crisis inquiry commission. phil, welcome back to the show. >> good to be with you, melissa. melissa: go ahead and spin it for us. why is this a good report? >> let me start with something one of our guests was talking about. this was a trauma to the financi
Search Results 0 to 2 of about 3 (some duplicates have been removed)

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